Financial Literacy Practice

Maryanne made her famous chocolate chip cookies for a bake sale. Several customers wanted to place orders for more cookies. Maryanne purchased the ingredients needed for additional cookies. She made this table to show the coast for each batch of 5 dozen cookies. Maryanne hired her sister Lillian to help her bake cookies.

Did you read this????

• YES

• Don't pick me!

  You need to read the tables!!!!

Which shows Maryanne's cost and profit for 1 dozen cookies?

• Cost: $10

  Profit: $8

• Cost: $6

  Profit: $2

• Cost: $2

  Profit: $10

• Cost: $2

  Profit: $6

Maryanne's sells 3 dozen chocolate chip cookies. What is her total profit?

• $18

• $12

• $24

• $20

If Maryanne's cookie business is successful, which of these could be a variable expense?

• The amount she pays for electricity

• The cost of the ingredients

• The amount she pays her sister

• All the above expenses

How many dozen cookies does Maryanne need to sell in order to make a profit of at least $25?

• 3 Dozen

• 4 Dozen

• 5 Dozen

• 6 Dozen

Cookies sales have been slow for several weeks, so Maryanne decides to reduce the price of the cookies. Which of the following statements is true?

• The reduced selling price of the cookies means that Maryanne will pay less for ingredients.

• The reduced selling price of the cookies means that Maryanne can reduce Lillian's pay.

• The reduced selling price of the cookies, will likely affect Maryanne's expenses, but will not affect her profit.

• The reduced selling price of the cookies will not affect Maryanne's expenses, but will likely affect her profit.